Use the New York Tax Form Calculator New York Tax Form 212att: Claim for Historic Barn Rehabilitation Credit And Employment Incentive Credit as a stand alone tax form calculator to quickly calculate specific amounts for your 2024 New York state tax return.
| Use this form to claim an investment credit for qualified expenditures in the rehabilitation of a historic barn, or to claim the employment incentive credit. Submit this form with Form IT-212. | |||||||||
| Schedule A – Historic barn rehabilitation credit | |||||||||
| Part 1 – Eligibility criteria for claiming this credit (see instructions, Form IT-212-ATT-I, for assistance) | |||||||||
| Complete questions 1 through 10 to determine if you are eligible to claim this credit. If you mark an X in the Yes box on line 1 or 6, or the No box on line 5, 9, or 10, stop; you cannot claim this credit. | |||||||||
| 1 | Has the barn been converted to residential use? (If you mark Yes, stop; you cannot claim this credit.) | | |||||||
| 2 | Is the barn listed in the National Register of Historic Places? (see instructions) If Yes, the barn’s rehabilitation must be certified by the federal Secretary of Interior or the New York State Office of Parks, Recreation and Historic Preservation. Submit a copy of the certification (see TSB-M-97(1)I). | | |||||||
| 3 | If you answered No to question 2, is the barn located in a registered historic district? | | |||||||
| 4 | If you answered Yes to question 3, is the barn of historic significance to the district? If Yes, the barn must be a certified historic structure, and the barn’s rehabilitation must be certified by the federal Secretary of Interior or the New York State Office of Parks, Recreation and Historic Preservation. Submit a copy of the certification. If No, submit documentation from the Office of Parks, Recreation and Historic Preservation stating the barn is of no historic significance to the district (see TSB-M-97(1)I). | | |||||||
| 5 | If you answered No to questions 2 and 3, was the barn originally designed and used for storing farm equipment or agricultural products or for housing livestock, and was the barn first placed into service before 1936? (If you mark No, stop; you cannot claim this credit.) | | |||||||
| 6 | Has the historic appearance of the barn been materially altered? (If you mark Yes, stop; you cannot claim this credit.) If No, submit a copy of the letter from the New York State Office of Parks, Recreation and Historic Preservation stating that the historic appearance of the barn has not been materially altered (see TSB-M-97(1)I). | | |||||||
| 7 | Describe the measurement period used to determine whether the barn has been substantially rehabilitated (See instructions.) | ||||||||
| 8 | 8 | ||||||||
| 9 | Do the expenditures incurred during the measurement period to rehabilitate the barn exceed the higher of the amount shown in question 8 or $5000? (If you mark No, stop; you cannot claim this credit.) | | |||||||
| 10 | Did you use the straight-line method of depreciation over a recovery period specified in either section 168(c) or section 168(g) of the Internal Revenue Code (IRC), whichever is applicable to you? (If you mark No, stop; you cannot claim this credit.) | | |||||||
| Part 2 – Investments in qualified rehabilitation expenditures | |||||||||
| Date rehabilitation work was begun (mmddyyyy) | Date rehabilitation work was completed (mmddyyyy) | ||||||||
| A Description of rehabilitation expenditures (submit additional sheets if necessary) | B Date of expenditure(s) | C Property’s useful life (years) | D Amount of expenditures | E Rehabilitation credit (column D × 25%) | |||||
| 11 | 11 | ||||||||
| Part 3 – Early dispositions of qualified property and addback of credit on early dispositions | |||||||||
| A Description of rehabilitation expenditures (submit additional sheets if necessary) | B Date acquired | C Date property ceased to qualify | D Property’s useful life (months) | E Unused life (months) | F Percentage (E ÷ D) | G Total investment credit allowed for rehabilitation of a historic barn | H Addback of credit on early dispositions (F × G) | ||
| 12 | 12 | ||||||||
| Schedule B – Employment incentive credit | |||||||||
| Part 1 – Eligibility for employment incentive credit | |||||||||
| A Year | B Mar. 31 | C June 30 | D Sept. 30 | E Dec. 31 | F Total (B + C + D + E) | G Average (see instr.) | H* Percent % | ||
| A. | Use with Part 2, line 17; first succeeding tax year | ||||||||
| 13 | Number of New York State employees in employment base year | ||||||||
| 14 | Number of New York State employees in credit year | ||||||||
| B. | Use with Part 2, line 18; second succeeding tax year | ||||||||
| 15 | Number of New York State employees in employment base year | ||||||||
| 16 | Number of New York State employees in credit year | ||||||||
| * Divide the average number of employees in the credit year by the average number of employees in base year (column G). Round the result to two decimal places. If the percentage in column H is less than 101% (1.01), stop; you do not qualify for the employment incentive credit. | |||||||||
| Part 2 – Computation of employment incentive credit | |||||||||
| A Tax year in which investment tax credit was allowed | B Amount of investment credit base upon which original investment tax credit was allowed (exclude research and development (R&D) property at optional rate) | C Employment incentive credit (multiply column B by the appropriate rate from Tax rate schedule below) | |||||||
| 17 | Information for first succeeding tax year; use line 14, column H, to determine rate | ||||||||
| 18 | Information for second succeeding tax year; use line 16, column H, to determine rate | ||||||||
| 19 | 19 | ||||||||
| Tax rate schedule – Employment incentive credit rates to be used in Part 2 above If the percentage in Part 1, column H is at least: The employment incentive credit rate is: 101% but less than 102% .................................................................... 1.5% (0.015) of investment credit base 102% but less than 103% .................................................................... 2% (0.02) of investment credit base 103% .................................................................................................... 2.5% (0.025) of investment credit base | |||||||||
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